AB InBev's Mixed Q3 Results and $1 Billion Buyback Program Amid Sales Tumble and Boycott
TL;DR
AB InBev, the parent company of Bud Light, reported mixed Q3 results with a decline in US volume growth and a drop in revenue. However, the company announced a $1 billion buyback program, which boosted its stock by 5%. AB InBev also plans to deleverage by purchasing up to $3 billion worth of bonds. The company is investing in marketing, including a partnership with the UFC, and remains committed to the Bud franchise despite recent challenges.
- Bud parent AB InBev posts mixed Q3 results, announces a $1 billion buyback program Yahoo Finance
- Bud Light parent Anheuser-Busch InBev's sales tumble further in US Fox Business
- AB InBev's sales surge despite boycott: Recovery plan unveiled Yahoo Finance
- AB InBev Shares Pop On Buyback, Earnings Beat as Boycott Continues to Hurt Sales Investopedia
- Bud Light brewer confident it can win back US drinkers, but sales are still down after backlash The Associated Press
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